WASHINGTON, DC - Democratic Whip Steny H. Hoyer (MD) released the following statement after the House Democratic Steering and Policy Committee held a hearing on gas prices and excessive oil speculation:

"Today’s hearing was an opportunity for Members of Congress to hear from experts on the problem of rising gas prices that has affected so many middle-class families across the country. I commend the Steering and Policy Committee for drawing attention to the role that excessive oil speculation plays in driving prices up for consumers. President Obama and Democrats in Congress will continue to pursue an all-of-the-above strategy to achieve energy savings and ensure affordable energy for future generations. I hope Republicans will join with us in this effort instead of continuing to insist on a drill-only approach that won’t lead to real solutions to the energy challenges we must meet in the months and years to come.”